FAC2602 Assignment 2 Semester 2 2018
This document contains guidelines, solutions and explanations on how to answer the FAC2602 assignment 2 2018 Semester 2 questions. For assistance whatsapp or call 0655053119 or email firstname.lastname@example.org
FAC2602: Group Statements Summary
This summary shows how to calculate figures in the consolidated financial statements, including the analysis of owner\'s equity calculations. These calculations and financial statement frameworks are provided for a wholly-owned and party-owned subsidiary at date of acquisition; a wholly-owned and partly-owned subsidiary after date of acquisition and an acquisition of subsidiary during the year.
In addition to this, calculations of how to calculate unrealised profit on sale of inventory/property, plant and equipment from subsidiary to parent and parent to subsidiary are provided (including where to include figures in the analysis of owner\'s equity and consolidated financial statements.
Finally, all the general journal entries pertaining to consolidations are provided.
FAC2602 Notes 2018
These study notes are a summarized version of the UNISA subject FAC2602 (Accounting Standards and Simple Group Structures), written by our Together We Pass lecturers. These notes provides you with the theoritical knowledge needed to understand the fundamental aspects of group financial statements in a business environment.
Provisions in respect of companies in a group context
Consolidation of a wholly-owned subsidiary at date of acquisition
Consolidation of a partly-owned subsidiary at date of acquisition
Consolidation of a wholly-owned subsidiary after date of acquisition
Consolidation of a partly-owned subsidiary after date of acquisition
Acquisition of an interest in a subsidiary during the year
Elimination of intragroup transactions
Treatment of dividends during consolidation
Treatment of preference shares during consolidation